By Gary Symons
TLL Editor-in-Chief
Attendees at Brand Licensing Europe had reason to celebrate this week, as a new report from Circana and Licensing International showed the global licensing industry posting a new high of $389.8 billion in sales of licensed merchandise and services.
Data from Licensing International’s Global Licensing Industry Study shows the global licensing industry shrugged off the negative influence of trade wars, tariffs, and inflation to post 5.45% growth in 2025.
Industry growth varied from market to market around the world, led by North Asia, which recorded by far the largest regional rise at +14.1% year over year. That growth shows not only the power of rising manufacturing prowess in the area, but also the increasing strength of Asian entertainment brands in China, Japan, and South Korea.
In Europe, where thousands of licensing professionals are meeting this week, the growth rate is more muted. That’s partly because Europe is a more mature market, but also due to economic factors such as the war in Ukraine, the impact of oil and gas shortages around the war in Iran, and overall inflation.
European sales of licensed merchandise and services reached $82.4 billion in 2025, an increase of 3.8%.
Western Europe, home to many of the brands, retailers, licensees, and manufacturers gathering at BLE this week, accounted for $70.1 billion, up 4%, while Eastern Europe rose 3.2% to $12.3 billion.
Younger but increasingly vibrant markets saw higher growth, with Latin America soaring by 7.6% and South Asia/PAC at +5.3%.
The US/Canada region remains the world’s largest and most important licensing territory, accounting for 58.3% of global sales.
Circana data shows Character & Entertainment is the largest property type globally, up 8% to $161.8 billion, followed by Corporate Brands at $98 billion. Sports climbed 8.5% to $44.4 billion, and Publishing rose 5.9% to $22.2 billion.
Apparel led product sales at $52.9bn, followed by Toys at $46.4bn and Software, Video Games & Apps at $43.1bn. Of those three categories, Software, Video Games & Apps saw the fastest increase at +12.5%.
“What really stands out in this year’s research is the breadth of opportunity across licensing, from the continued growth of art and experiences to strong performances in sport, gaming, and food and beverage,” said Licensing International president Maura Regan. “It’s also fascinating to see that, in the first year we’ve measured it, social media is already generating 16% of online sales globally.
“With 32% of licensed sales now taking place online, this gives us an important new benchmark for understanding how and where consumers are buying licensed products.”
With BLE taking place this week, licensing industry performance in Europe is of particular interest, and the data is encouraging despite the challenges the region has faced.
The Circana data shows licensed toys continuing to significantly outperform unlicensed toys in the European toy market.
That’s backed up by data from the Global Licensing Industry Study showing that Character & Entertainment remains the largest IP type in Europe, accounting for 53.5% of sales, followed by Corporate Brands at 25.5%. Most toy licenses are based on character and entertainment brands.
Other areas of strength in Europe include Publishing, up 18.8%, Sports at +13.4%, and Collegiate at +7.8%. At the product level, Food & Beverage rose +15.8%, Software, Video Games & Apps +15.2%, and Sporting Goods was up 12.7%.
The results varied considerably between individual markets, with growth higher in Western Europe than in Eastern Europe. The UK recorded the largest overall increase of the four top reporting European countries highlighted in the study, rising 7.2% to $19.2bn. That performance was driven by sharp increases for Corporate Brands at +32.6%, Publishing at +25.1%, and Food & Beverage at +27.3%.
In contrast, Germany grew +5.3% to $14.6bn, where Publishing was up 20.3% and Toys +15.8%. France reached $8.1bn, up 1.8%, with Music rising 23.8% and Toys +14.6%. Italy generated $5bn, an increase of 0.8%, where individual sectors moved considerably faster, including Sports at +23.9%, Publishing at +20%, and Art at +16.7%.
“These findings feel particularly significant against the wider retail picture across Europe,” said Ella Haynes, Event Director at Brand Licensing Europe. “Licensing continues to prove its strength as a business strategy, delivering growth across four of the major European markets highlighted in the study despite continued pressure on consumers and retailers.”
In fact, Haynes says licensing is particularly important in tougher economic times.
“Time and again, we see the power of strong brands and fandom come through in more challenging trading conditions, creating opportunities for retailers and manufacturers to connect with consumers through the characters, teams, games, artists, and brands they love,” Haynes said. “There are clear differences between countries and categories, which is exactly why bringing the industry together at BLE matters, to share what’s working, understand where the opportunities lie, and turn those insights into new business.”
Peter Cross of Broad Street Licensing Group agrees that companies that maintain their licensing activities through a downturn perform better over the long term.
“It can be incredibly difficult for brands to see beyond what is in front of them: rising costs, fewer sales as consumers tighten their spending,” Cross said. “But what consumers want at the end of the day is for their purchases to mean something. They want value, and not in just how they can save money, but in the quality of the products they purchase.
“Even in the worst economic times, consumers continue to buy the brands they trust, even if at a less frequent rate.”
The toy industry in particular has exemplified that view, posting strong results globally and in Europe.
Across the EU5 (UK, France, Germany, Italy, and Spain), the report noted that total toy sales grew +8% in value year-to-date to August 2026, while licensed toys surged +20%; roughly two and a half times faster. Licensed products now account for 35% of all toy sales across the five markets, up from 31% in 2025.
Sport has been a major driver, with FIFA recording the largest increase due to the 2026 Men’s World Cup, which highlighted the growing opportunity for sports licensing within toys.
Movie-related properties also remain strong, up 10%, led by Toy Story, with sales six times higher than in 2025, alongside Spider-Man (+47%) and Super Mario (+43%).
TV and streaming-related licensing rose +15%, with newer properties including the One Piece live-action series and KPop Demon Hunters driving sales, while Pokémon remains the #1 toy property and is up a further 9%.
“Licensed toys are taking an increasingly significant share of the European toy market, and 20% growth against 8% for toys overall shows just how powerful licensing can be,” said Melissa Symonds, UK Toy Director at Circana. “What’s particularly interesting this year is the breadth of fandom behind that performance, from the huge impact of the FIFA World Cup and established movie franchises, to new streaming content finding an audience through toys.
“With more than one in three toy sales across the EU5 now licensed,” she added, “brands and characters that consumers already know and love are proving to be an increasingly important part of what drives the market.”
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